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In the world of horse racing, few events captivate enthusiasts and punters alike as much as the Melbourne Cup. Known as "the race that stops a nation," the Melbourne Cup is a prestigious thoroughbred horse race that has become an iconic part of Australian sporting culture. For passionate racing aficionados in Australia, the excitement goes beyond the track and extends to the world of sports betting. In this comprehensive guide, we will explore the intricacies of Melbourne Cup betting, covering the race's history, popular betting markets, strategic considerations, online platforms, regulatory frameworks, and the evolving landscape of horse racing wagering. Kayo Sports Kayo Sports Playstation our top pick, high odds Implied probability is the likelihood of an event happening according to the odds. Punters can use implied probability to assess whether the odds offered by a bookmaker represent value.